Cowen Digital will offer full-service trade execution and custody solutions.

Cowen Inc (NASDAQ: COWN), the New York-headquartered investment banking firm has launched Cowen Digital LLC, its digital asset division focussed on institutional clients. The new division offers full-service trade execution and custody solutions on a platform that provides these clients with secure and compliant access to the digital asset ecosystem. (Cowen)

The new unit will be led by Cowen Managing Director Drew Forman.

Custody solutions are provided through Cowen’s strategic partnership with PolySign’s Standard Custody & Trust.

Digital services for institutional clients

The launch of the new division comes after 15 months of building the infrastructure and systems. As a result institutional clients can:

• Access Cowen’s aggregated liquidity through one trusted counterparty
• Utilize Cowen’s proprietary algorithms through high-touch or low-touch trading
• Benefit from streamlined operational and capital efficiencies as well as post-trade reporting
• Trade directly from Standard Custody’s cold storage solution
• Avoid pre-funding requirements and receive flexible net settlement arrangements
• Access expert analysis from Cowen Research and its policy experts, Washington Research Group

“Through Cowen Digital, our clients now have access to the crypto and digital asset markets with our institutional quality and fully integrated end-to-end execution and custody capabilities,” said Jeffrey M. Solomon, Cowen Chair and Chief Executive Officer. “Cowen is committed to outperforming for its clients by staying at the forefront of innovation.”

Forman told CoinDesk that Cowen already has a client list in the hundreds for the new service.

The bank is also already trading tokens including including bitcoin (BTC), ether (ETH), solana (SOL) and USD coin (USDC).

Related Story: Goldman Sachs Private Wealth Management To Offer Cryptos

Image of Cowen Headquarters: Wikipedia By Miguel Vaca from Bogotá, Colombia